Morning Money — Friday Weekly Recap, October 30, 2026
This week’s big shift: borrowing costs are rising again
The Bank of Canada lifted its policy rate by a quarter-point to 2.5% on Wednesday, warning that further increases may be needed. Expensive energy is keeping inflation stubborn: the Bank now expects it to average 3% in 2027. For households and businesses, that means renewed pressure on prime-linked borrowing costs as lenders adjust rates.
Friday starts with a tech wobble
Early premarket reports put Nasdaq-100 futures down roughly 2.3% and S&P 500 futures down 1%, with the Dow roughly flat. Amazon fell about 7% and Intel about 25% after earnings as spending and cash-flow concerns unsettled investors. These are early snapshots, not opening prices. Canadians holding U.S. equity funds can feel the impact of these large technology names.
At home, banks and commodities tell different stories
The TSX finished Thursday near 36,249, almost unchanged, as bank gains offset mining and technology weakness. This week’s corporate results also showed how uneven the economy is: Air Canada lowered its annual earnings outlook as fuel costs climbed, while higher copper and zinc prices helped lift Teck’s profit.
Next week
Canada’s October jobs report arrives Friday, November 6. Watch hiring, unemployment and wage growth for clues about how households are coping—and how much room the Bank of Canada has to tackle inflation. Energy prices and the next wave of corporate results will remain important for market sentiment.
Weekend Listen
Curious about how young companies get funding to grow? Join me for a conversation with Matan Hazanov about venture capital: investing in young businesses with growth potential in exchange for an ownership stake. Here’s my interview for your weekend listening:
